2007-05-03 11:39:15 · 13 answers · asked by Anonymous in Business & Finance ➔ Credit
I am 32 and my motto is "if I can´t afford it, I don´t buy it" I´d only make an exeption for a house, right now I´m renting..
2007-05-03 11:46:16 · update #1
Yes , Everyone at some time in there life needs to borrow money. A mortgage to buy a home , a car loan? Unless you are born into a rich family.
It is a very good habit to limit and budget your spending , and save though.
Renting is worse than having a mortgage , you never own your own place and never accumulate equity.
I agree with saving to buy something instead of putting it on credit , that is what I do as well.
2007-05-03 11:42:37 · answer #1 · answered by Heads up! 5 · 2⤊ 3⤋
It shows much more discipline than 90% of the population has.
But it may also be a mistake. When you go to buy a house, you won't have much of a credit record. I'd recommend you make occasional small loans just to build up your credit record before buying a house. One of those 0% car loans might be a good choice.
2007-05-04 14:21:25 · answer #2 · answered by Quixotic 3 · 1⤊ 0⤋
i think the only debt people should have is loans/mortgages for a car or property, apart from that - credit cards and store cards are a waste of time, if you havent got the money - you can spend any, some people are so dumb honestly then they moan about being in debt, i have no sympathy
good on you, dont ever get in debt (untill you buy a car or house) ;-)
2007-05-03 18:44:36 · answer #3 · answered by misyid 2 · 2⤊ 1⤋
God Bless you!
Im 39 and have close to 15k in credit card debt plus still owing 4k on a car loan that is 3 out of 5 years done (yes i have a mortgage as well but i am assuming you arent referring to that)
2007-05-03 18:49:20 · answer #4 · answered by Michael M 1 · 2⤊ 1⤋
You are not alone, but you are a rare breed. I would encourage you to save up the largest possible down payment for a house. 100% down IS an option. Whatever you do NEVER get an adjustable rate mortgage. Rates WILL go up at the worst possible time.
2007-05-03 19:47:55 · answer #5 · answered by STEVEN F 7 · 0⤊ 1⤋
until we bought our first new car a few months ago, no we didn't- a fact that we were very proud of. . . until we realized that we wouldn't ever be able to buy a house (we are not independently wealthy:) ) if we didn't start building our credit by incurring some debt, and then repaying it. the key is to not get in over your head, and always pay your debts on time.
2007-05-03 18:45:47 · answer #6 · answered by Misty 3 · 1⤊ 1⤋
well good for you, but you will at some point in your life , plus is good to have some type of debt if you want to have a good credit score , you 'll need it if you wish to buy a house a car etc. let me know what you think.
2007-05-03 18:46:25 · answer #7 · answered by alex g 1 · 1⤊ 2⤋
yes..youre the only one in this big big world of millions and millions and millions..and..heads up is right youre going to be..to buy a house or a second house..must be like under 20
2007-05-03 18:43:36 · answer #8 · answered by Anonymous · 2⤊ 3⤋
No! Me too...I couldn't live with the stress, so I don't do it.
2007-05-03 18:42:19 · answer #9 · answered by lavito 3 · 1⤊ 0⤋
No I am one to I have never owed anyone ...
2007-05-03 18:48:04 · answer #10 · answered by JIMMY B 2 · 1⤊ 2⤋